F1 RACING COMES TO MIAMI?

Formula One is scouting Miami, Florida as a site for a Grand Prix race. F1, or FIA Formula One World Championship, is the foremost auto racing league on the planet. Envision Miami – dozens of superyachts lining the course. Thousands of thrilled spectators crowd luxury yacht decks to see the action.

BACKGROUND

Per the Miami Herald, F1 execs met with mayor and government officials in November in Miami. They discussed racing logistics for an annual event along Biscayne Bay, downtown Miami.

Events Director for city of Miami, Vicente Betancourt, says the goal is to add Miami to the Formula 1 season in 2020. “It’s like the Super Bowl of auto racing,” said Betancourt. “Hopefully we can make it happen.”

WHO WILL ANNOUNCE THE RACE?

Will the amazing Michael Buffer possibly be the announcer for a Miami Grand Prix Formula One race?

What a wonderful boost for the South Florida economy. A Grand Prix Formula One race could provide corporate sponsorships from such companies as Amazon. (Jeff Bezos, graduated high school in Miami, in the same class as our company President, Jana Sheeder). Other sponsors to include:

GROWING THE GLOBAL AUDIENCE

From April through November, the Formula One’s series is comprised of 20 races in cities around the world. Those cities include Singapore, Budapest, Sao Paulo, Dubai, and Monaco. There are 15 road courses and five courses laid out on city streets.

Formula 1 has new ownership (Liberty Media) and looks to expand its U.S. presence. F1 has a massive fan base across the globe; however, it lags behind other sports in the United States, like football, basketball, and NASCAR. Soccer is as popular as F1 racing. The only United States Grand Prix race is in Austin, Texas right now. Chase Carey, Liberty Media’s CEO of the Formula 1 Group, says he wants another race in America. An event in Miami, or possibly Las Vegas or New York, has been publicly discussed.

Carey wants to see F1 grab a foothold in “destination cities” like New York, Los Angeles, Miami, or Las Vegas. This would create a week-long celebration capable of attracting people from all over the world.

WHY MIAMI?

“Of all the races held annually by F1, the two premier events are staged in Monaco and Abu Dhabi,” says Sheeder. “Both locations have courses along the waterfront, and thousands of spectators enjoy the race and the festivities from the decks of dozens of luxury yachts. The Miami Grand Prix would duplicate that unique setting, as the course would pass through downtown Miami, along our beautiful waterfront area – and we have many superyachts that already make South Florida their home port.”

According to AutoGuide.com, Formula One filed on November 1st for a new trademark on a race event in Miami (as well as Las Vegas and New York). The next day, Sean Bratches, Formula One’s director of commercial operations, came to Miami, with his track engineers, and met with Mayor Francis Suarez and checked out the city streets near the downtown area, along the waterfront. Betancourt, who has been in communications with F1 since May said nothing was finalized. “We’ve got to see if it works and what it would cost them to actually bring it out. I think the ball is pretty much in their court.”

MIAMI BACKGROUND

Sheeder points out the idea of a major road race and spectator yachts is not new for the city. In the 1980’s, the Miami Grand Prix was a major annual event (but not affiliated with the F1 series).

“Private luxury yacht charter vessels would line up, stern-to the seawall in the area that is now the Bayside Marketplace, and spectators would watch the race from the deck of their superyachts. In the evening, many of the yachts would host private parties for the charterers, as well as the owners, drivers, and corporate sponsors of the racing teams.”

MOVE OVER, MONACO!

Sheeder is optimistic a new F1 week-long race event will become a marquee attraction for South Florida.

“Assuming the financing and logistics make sense for Formula One, a corporate hospitality Miami Grand Prix yacht charter could easily rival the excitement of a Monaco Grand Prix yacht charter or an Abu Dhabi yacht charter. Yes, Monaco has the edge thanks to many decades of exposure, but Miami could make a big splash. We have the best weather, and the largest inventory of luxury yacht charter vessels anywhere in the world. Throw in the sexy appeal of nearby South Beach with world-famous hotels, restaurants, nightclubs, and celebrities, and Miami is a world-class big-event town.”

Where else can you go to an upscale event, wearing little more than sandals and a bathing suit, where the best “seat” in the house is in an on deck Jacuzzi on a private luxury yacht???